Sino Agro Food Inc (fka SIAF)

[jyyoo]

RD what kind of margins would you expect to see for Tri-way's new trading business? They said they target low 9 figures for 2019 (let's assume the lowest at $100M). How would that ultimately translate into income for Tri-way?

Yes, the trading business has begun. Remember that this business is Tri-way’s, separate and apart from SIAF’s trading division. So they will run it. Sales started in November and December totaling in the low millions. Financing has been arranged. Tri-way intends to ramp the business starting in the first quarter of 2019. It’s difficult to project 2019 revenue, but Tri-way’s ambitions are low nine figures in the first full fiscal year. As already stated, this will provide incremental income to Tri-way, comparing to zero in the first ten months of 2018, and will flow through to SIAF on SIAF’s income statement proportionate to its equity interest.